Travis Perkins hails ‘encouraging’ first quarter
Travis Perkins has said it made a positive start to its new financial year with total sales in the three months to 31 March rising by 13.6%.
Sales in its merchanting segment grew by 17.9% with all businesses performing in line with expectations.
Meanwhile, Toolstation total sales were down 6% as expected in the period, with like-for-like sales down 11.9%. Travis Perkins said the declines were a reflection of a tough prior year comparator and the return of Toolstation’s customer mix back to its core trade base.
The company said management’s expectations for the full year remain unchanged.
Nick Roberts, Travis Perkins, chief executive, said: “The energy efficiency of the UK’s built environment remains a key focal point for households and politicians alike and the current cost of energy is likely to prompt further demand for improvement in both new and existing buildings. Allied to the significant pipeline of investment in the UK’s social and economic infrastructure, we remain confident in the structural drivers of demand in our end markets.”
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